General Electric (NYSE:GE) Stock Holdings Lessened by AMG National Trust Bank

AMG National Trust Bank lessened its holdings in General Electric (NYSE:GE - Free Report) by 30.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,886 shares of the conglomerate's stock after selling 4,324 shares during the quarter. AMG National Trust Bank's holdings in General Electric were worth $1,864,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Bahl & Gaynor Inc. grew its stake in General Electric by 4.6% during the first quarter. Bahl & Gaynor Inc. now owns 5,686 shares of the conglomerate's stock worth $998,000 after buying an additional 251 shares during the period. Bessemer Group Inc. raised its holdings in shares of General Electric by 69.2% during the first quarter. Bessemer Group Inc. now owns 55,468 shares of the conglomerate's stock worth $9,737,000 after purchasing an additional 22,689 shares during the period. Lake Street Advisors Group LLC lifted its holdings in General Electric by 72.1% in the first quarter. Lake Street Advisors Group LLC now owns 6,300 shares of the conglomerate's stock worth $1,106,000 after acquiring an additional 2,640 shares during the last quarter. Pitcairn Co. lifted its stake in General Electric by 102.7% in the first quarter. Pitcairn Co. now owns 10,940 shares of the conglomerate's stock valued at $1,920,000 after buying an additional 5,544 shares during the last quarter. Finally, Evermay Wealth Management LLC increased its stake in shares of General Electric by 59.0% in the first quarter. Evermay Wealth Management LLC now owns 2,002 shares of the conglomerate's stock valued at $351,000 after purchasing an additional 743 shares during the period. 74.77% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the sale, the senior vice president now owns 13,289 shares in the company, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.66% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Barclays increased their price objective on General Electric from $175.00 to $200.00 and gave the company an "overweight" rating in a research report on Tuesday, July 30th. UBS Group upped their price target on General Electric from $223.00 to $230.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Royal Bank of Canada lowered their target price on General Electric from $210.00 to $200.00 and set an "outperform" rating on the stock in a report on Wednesday, October 23rd. Melius Research boosted their price target on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Finally, StockNews.com lowered shares of General Electric from a "buy" rating to a "hold" rating in a report on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, General Electric presently has a consensus rating of "Moderate Buy" and a consensus target price of $200.93.

General Electric Stock Performance

Shares of General Electric stock traded up $0.04 during midday trading on Tuesday, hitting $177.56. The company had a trading volume of 3,194,604 shares, compared to its average volume of 6,210,461. The stock has a market cap of $192.17 billion, a price-to-earnings ratio of 30.96, a PEG ratio of 1.75 and a beta of 1.19. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The company has a fifty day simple moving average of $182.54 and a 200 day simple moving average of $170.81. General Electric has a 12-month low of $94.54 and a 12-month high of $194.80.

General Electric (NYSE:GE - Get Free Report) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping analysts' consensus estimates of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business had revenue of $9.84 billion during the quarter, compared to analysts' expectations of $9.02 billion. During the same quarter in the previous year, the company earned $0.82 earnings per share. The company's quarterly revenue was up 5.8% on a year-over-year basis. As a group, analysts predict that General Electric will post 4.22 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.63%. The ex-dividend date was Thursday, September 26th. General Electric's payout ratio is 19.68%.

General Electric Company Profile

General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.